Greggs (LON:GRG) Shares Down 15.2% - Here's What Happened

Greggs plc (LON:GRG - Get Free Report)'s share price fell 15.2% during trading on Wednesday . The company traded as low as GBX 1,646 ($22.62) and last traded at GBX 1,675 ($23.02). 5,472,417 shares were traded during trading, an increase of 336% from the average session volume of 1,256,455 shares. The stock had previously closed at GBX 1,975 ($27.14).

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Shore Capital restated a "buy" rating on shares of Greggs in a research report on Tuesday, May 20th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 3,250 ($44.66) price objective on shares of Greggs in a research report on Wednesday, May 21st.

Greggs Price Performance

The company has a debt-to-equity ratio of 66.19, a current ratio of 0.80 and a quick ratio of 0.88. The company's 50-day moving average is GBX 1,951.10 and its 200-day moving average is GBX 2,060.45. The firm has a market capitalization of £1.69 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 3.39 and a beta of 1.43.

Insider Transactions at Greggs

In other news, insider Roisin Currie acquired 64 shares of the business's stock in a transaction dated Saturday, June 14th. The shares were bought at an average cost of GBX 2,791 ($38.35) per share, for a total transaction of £1,786.24 ($2,454.64). Company insiders own 5.89% of the company's stock.

About Greggs

Greggs is a leading UK food-on-the-go retailer with more than 2,600 shops nationwide and approximately 33,000 employees across the business. As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items.

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